7-Zip is a free compression software with a high compression ratio. The program supports 7z, ZIP, RAR, CAB, GZIP, BZIP2, and TAR formats. Compression ratio in the new 7z format is 30-50 percent better than ratio in ZIP format. It also compresses to ZIP 2-10 percent better than PKZip and WinZip. It has an additional powerful command line version and FAR Manager support.

I was having a problem with
WinZip and then a few days later it was telling me to send money. I de-installed it and installed 7-zip which I have had on my home system for about 2 years and man it always works without a hiccup and is hi performance. Get it, you wont regret it.

This is so much better than WinZip or WinRar, because it has a better compression ratio, support for more file types, and a smaller download. Plus it's free and open source! It is updated regularly and I have been using it for two years now and have never had a crash or other problem. A must-have!